The Russian taxation system must be stable and it will not be proper to change it in coming years, Finance Minister Anton Siluanov said on Tuesday.
“We see the need of keeping tax sources and taxes existing to date and say it will not be proper to change the taxation system in coming years. Stability of the taxation system should be ensured to provide for stable business climate,” Siluanov said.
“It is unacceptable for us. We are saying we need to grow above the global economy rates. If taxes hike, what growth rates will be then?” the minister said.
The draft budget currently under preparation in the Russian government is a “challenging” one, the minister said. It is also important to improve administration and gathering of taxes in terms of the taxation policy, Siluanov added.
According to the minister inflation and loan rates reduction are priority tasks for the Russian economy.
“We believe our task in these challenging conditions is to ensure macroeconomic stability, reduction of inflation and loan interest rates in the first instance,” Siluanov said.
The Russian Finance Ministry predicts inflation will not be higher than 6% in 2016.
“We see inflation normalized quickly this year. Our inflation outlook is not above 6%,” Siluanov said.